NetworkNewsWire
Editorial Coverage: Blockchain technology has the potential to
disrupt many industries in the future by changing the way companies
process business transactions. Originally developed to facilitate
the exchange of cryptocurrencies like bitcoin, blockchain will
provide access to financial services for people all over the globe,
especially those who don’t have access to traditional banking.
Future Thinkers outlines several industries that are likely to
benefit from blockchain technology for their business transactions
(http://nnw.fm/MjaO8), including supply chain
management, forecasting, the Internet of Things (IoT), insurance,
ride sharing, cloud storage, voting, government services, energy
management, online retail, real estate and healthcare. Businesses
in these industries will adapt their processes to accommodate the
number of people concluding transactions online, which is growing
exponentially. Victory Square Technologies, Inc. (CSE:VST)
(OTC:VSQTF) (FWB:6F6) (VSQTF
Profile) is one of the leading companies
taking advantage of the growth potential of blockchain technology
by investing in and incubating entrepreneurial ventures in this
sector. Other companies investing in business opportunities in
online payment and blockchain technologies include Net
Element, Inc. (NASDAQ: NETE) (NETE
Profile), Riot Blockchain, Inc.
(NASDAQ: RIOT), Longfin Corp. (NASDAQ:
LFIN) and Overstock.com, Inc. (NASDAQ:
OSTK).
Victory Square
Technologies, Inc. (CSE:VST) (OTC:VSQTF) (FWB:6F6) incubates
and invests in entrepreneurs to create partnerships and joint
ventures in various fields, including blockchain technology,
virtual reality, artificial intelligence, personalized health,
gaming and film. The company’s business model enables these
entrepreneurs to access its creative workspaces, education
programs, distribution partners and global mentorship networks. It
also offers operational support to help these emerging companies
scale their operations internationally.
Though most people are now familiar with blockchain, Victory
Square’s involvement in the technology started before it went
“mainstream.” Over three years ago, the company invested in the BTL
Group (BTL:CC) (OTC: BTLLF), using its business model to grow the
company to a $215 million organization recognized as the first
public blockchain technology company. BTL’s core product is called
Interbit, a blockchain platform used by some of the world’s largest
companies and institutions to explore new business opportunities
using private blockchains. BTL has developed blockchain solutions
for companies in the energy, finance and gaming sectors.
As it continues to gain traction and pace alongside broader
market growth, Victory Square is enhancing its networking efforts
and exposure within the blockchain realm. The company recently
partnered with the North American Bitcoin Conference, a part of the
World Blockchain Forum, which will allow the company to be among
the presenters at a major conference in Miami on January 18-19
(http://nnw.fm/0at7R). Organized by Keynote
Events, the conference will be attended by more than 1,500 leading
shareholders in the blockchain and cryptocurrency sectors and will
cover a wide range of related topics such as blockchain, bitcoin
and Ethereum, regulations in the field, initial coin offerings and
more. The partnership will allow Victory Square the opportunity “to
engage with some of the most promising startups and respected
blockchain thought-leaders in the world,” according to CEO Shafin
Diamond Tejani. A focal point for the company will be participation
in the “Pitch Your ICO” sessions, where over 30 leading blockchain
companies will present to some of the most notable investors in the
industry.
On the topic of ICOs (initial coin offerings), Victory Square
has its hand in the game with plans to purchase $500,000 of
cryptocurrency tokens in Bluzelle Platform Pte. Ltd.’s token sale
(http://nnw.fm/8lSb8) coming up later this
month. Bluzelle is a leading decentralized database service
recognized as a “technology pioneer” by the World Economic Forum.
Backed by experience building enterprise-grade blockchain
technology for reputable businesses such as KPMG, Microsoft
(NASDAQ: MSFT), HSBC (NYSE: HSBC) and others, Bluzelle is poised to
gain considerable traction at its ICO. As an early contributor to
the ICO, Victory Square is privy to an additional 25 percent of
bonus Bluzelle tokens.
Another recent endeavor is Victory Square’s interest in the
game-changing role of blockchain technology in the creation of a
global decentralized Internet via software-defined wide-area
networking (SD-WAN). The company has signed a letter of intent to
acquire a 20 percent stake in SD-WAN company Multapplied Networks
Inc. (http://nnw.fm/Rq3a2) – an organization focused on
supporting service providers to incorporate SD-WAN technology into
their existing services to develop a decentralized Internet.
Multapplied Networks is already serving a considerable portfolio of
global partners across North America, Europe, Africa, Asia and
Australia.
A promising industry with regard to blockchain implementation
for secure transactions is the fast-growing sports betting industry
– another sector Victory Square is already exploring. The global
online gambling market is expected to reach $59.79 billion in 2020
from $37.91 billion in 2017, according to Statista. Of
this, the esports segment is responsible for over $696 million in
revenue for 2017, a figure expected to increase to $1.5 billion by
2020, according to a Newzoo report (http://nnw.fm/X1llW). While traditional payment
services such as digital wallets and banks have been typically wary
of supporting the online gambling sector, blockchain technology has
the potential to significantly transform the industry by enabling
easier payments, a more transparent betting process and overall
more positive experiences for the users.
Recognizing the market opportunity within this burgeoning
sector, Victory Square’s FansUnite Media Inc. subsidiary has
already integrated blockchain technology into its development of a
social sports betting platform that enables community members to
collaborate, discuss and predict the winners of sporting events
using free virtual currency. FansUnite recently introduced FAN
tokens for gaming, purchased with cryptocurrency to enable
consumers to place bets and earn more tokens by participating in
the company’s Bounty program. FansUnite co-founder and CEO Darius
Eghdami has expressed confidence that its dynamic and responsive
betting platform will enable the company to develop into the gold
standard for sports betting sites worldwide.
The success of this blockchain application has encouraged
Victory Square to incorporate this technology in its other
subsidiaries and divisions. On December 11, 2017, Victory Square
announced that its subsidiary, VS Blockchain Assembly Inc., has
been developed to provide blockchain and cryptographic services to
the other enterprises within its portfolio (http://nnw.fm/7lvQv). It will provide guidance on
blockchain technology architecture and development, and facilitate
banking, legal and commercialization services. Blockchain Assembly
will also assist these companies to raise capital, either through
private funding, public markets or token generation events.
Victory Square’s investment strategy also includes a range of
endeavors that demonstrate its expertise outside blockchain
technology. Victory Square Health Inc., which focuses on developing
solutions in personalized health technologies. Victory Square
Health has in turn invested in Personalized Biomarkers Inc.
(“PBI”), a company that develops test kits to predict the response
to therapies prior to prescription. PBI is initially focusing on
diabetes, identifying five potential biomarkers and enabling the
company to enter a $4 billion market opportunity. In partnership
with Insight Diagnostics Inc., Victory Square Health is developing
a personalized diagnostic solution for the prevention and
management of Type II diabetes.
Victory Square has also been instrumental in the incubation of
V2 Games, a studio for the development and publishing of
high-quality mobile games. V2 Games is best known for its launch of
PAC-MAN Bounce and Beast Brawlers, which has resulted in millions
of downloads globally.
Victory Square CEO Tejani has stated his confidence that all
these companies within its portfolio will have an influential role
to play in the evolution and growth of the company to maximize
returns for its investors.
A player new to blockchain but well-versed in payment
innovations is Net
Element (NASDAQ: NETE), a technology-driven company
that specializes in mobile payments and value-added transactional
services. It owns Unified Payments, a provider of bankcard payment
processing services and value-added solutions in the U.S., as well
as owns Aptito, a next generation cloud-based point-of-sale (POS)
payments platform, and Restoactive, a digital add-on for POS legacy
systems. The company’s stable also includes Payonline, a fully
integrated, processor agnostic ecommerce platform. On December 20,
2017, Net Element recently announced that it is launching a
blockchain-focused business unit to develop a cryptocurrency-based
ecosystem to enable merchants to connect with consumers (http://nnw.fm/0lB6b). This announcement resulted in
its shares rocketing more than four-fold to a 16-month high.
Riot Blockchain (NASDAQ: RIOT) targets
investments in blockchain technology by identifying unique projects
in decentralized markets, with its primary focus on the Bitcoin and
Ethereum blockchains. The company’s portfolio includes Verady,
which provides cryptocurrency accounting and audit technology
services through VeraNet. This application enables companies and
individuals to account, audit and report on blockchain assets,
while providing a bridge between cryptocurrencies and traditional
financial accounting. Riot Blockchain also owns Coinsquare, a
leading Canadian digital currency exchange, which provides a
user-friendly, secure, cost-efficient and trustworthy way to
purchase digital assets. Tesspay also falls within Riot
Blockchain’s portfolio, and plans to develop a blockchain-based
escrow service for wholesale telecom carriers. The company has also
launched a Bitcoin mining operation.
A U.S.-based financial technology company, Longfin
(NASDAQ: LFIN), provides finance and foreign exchange
hedging solutions for importers, exporters and SMEs worldwide. The
company uses blockchain technology to enable trade finance
solutions globally for SMEs, manufacturers, processors, importers
and exporters using cryptocurrencies. It also provides financing
for companies and lower credit rated banks using insurance wrap.
Longfin’s vision is to securitize and finance carry trade and asset
backed solutions for companies, while aiming to connect with 70
forex and spot exchanges, and over 300 banks across the world. On
December 18, 2017, Longfin stock rose almost five-fold on the news
that it had bought Ziddu, a blockchain technology provider for
micro lending, warehouse finance, trade finance, bullion trading
and real-time derivative settlements.
Another company long in support of cryptocurrencies and
blockchain technology is Overstock.com (NASDAQ:
OSTK). Overstock founder Patrick Byrne recently announced
the company’s Medici Ventures has signed a memorandum of
understanding to create DeSoto, a company built to work on
blockchain. According to a December 27, 2017, the goal of the new
company is to develop a blockchain-based system to develop a global
property registry system focused on the property rights of people
in the developing world. Overstock’s portfolio company “Bitt” also
recently launched its new mMoney digital payment product in
Barbados. Under the mMoney brand, Bitt is bringing a
blockchain-based mobile wallet that allows users to participate in
digital transactions on their smart phones from a secure account, a
company press release states (http://nnw.fm/3nnAW).
Blockchain technology has generated a large amount of interest
and excitement in many industrial sectors for its potential to
facilitate faster and more secure business transactions. These
companies are some of the leading enterprises well-positioned to
capitalize on the future development and adoption of this
technology.
For more information on Victory Square, visit Victory Square
Technologies, Inc. (CSE:VST) (OTC:VSQTF) (FWB:6F6).
For a more in-depth look into Victory Square
(CSE:VST) (OTC:VSQTF) (FWB:6F6), view the full report on Microsmallcap.com.
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